Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
JP Morgan overtakes HSBC to go top for the region
New facility smaller than the original but 20% larger than the launch amount
The new hire will report to Stan Chart's MENA FIG chief
In Europe loans are the key to opening ancillary business while in the Middle East relationships should cap premiums
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The world's largest oil company, Saudi Aramco, on Tuesday raised an $8bn multi-tranche bond, featuring a rare 50 year piece, in only its second entry into debt capital markets. Proceeds from the deal will help it to generate enough cash to fund a dividend of $75bn as oil prices remain under pressure.
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Qatar National Bank, by assets the largest bank in the Middle East and North Africa, has raised a dual tranche $3.5bn syndicated loan, one of the largest emerging market loans signed this year.
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A flurry of Gulf issuers was on track on Tuesday to securing last minute bond funding, as investor appetite appeared insatiable for emerging market debt amid a rally that may well be curtailed by the impending US Thanksgiving holiday.
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Saudi Aramco, which made its debut in bond markets last year, has mandated banks to arrange a dollar offering, including a 50 year tranche — a maturity only issued once before by a Gulf borrower. According to market players, this is an opportunistic move to grab cash before year-end taking advantage of yield-hungry investors.
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French agency Caisse des Dépôts et Consignations finished its 2020 syndicated funding programme with a visit to the Swiss market this week, printing an extremely tight deal through the high quality domestic covered bond curve.
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Emerging market issuers have crept back into the small issuance window in international markets after a brief pause for the US elections, with Dubai Islamic Bank and Uzbekistan’s Ipoteka Bank issuing dollar-denominated bonds this week.